Quote:
Originally Posted by I-Hate-Hulse
It depends....demand is going to be driven by a lot of the usual factors - location, aesthetics, supply, condo fees, etc.
The lack of condo fees is going to be great in the early years of your condo and demand / interest for this no fee situation will increase (as it did for you). However, as time goes on - some of the things that would work great if done in an organized fashion - can get shoddy if one side decides to replace the roof, and the other side doesn't. Or if one unit wants a blue color scheme and the other side wants brown, like in this example:
https://www.google.com/maps/@51.1289...7i13312!8i6656
(for the record I think this example looks OK, but I've seen examples that were just plain terrible) |
The other thing to consider is budgeting. The example above looks not bad because at least both roofs got done.
But condo fees force you to budget for major repairs, as they aren't optional and the reserve fund gets funded to pay them. The risk is that in 30 years your neighbour's roof, windows, and Siding are all still original and look terrible because they didn't budget for replacement.
Not an issue in the short term when everything is new, but something to keep under consideration. (And probably a good idea to keep your own savings for eventual larger repairs)